KeyBanc raised the firm’s price target on Global-e Online (GLBE) to $55 from $38 and keeps an Overweight rating on the shares. The firm notes Q3 results came in above expectations and full-year guidance was raised to reflect accelerating gross merchandise value and top-line growth within Q4. Strength in the quarter came from new merchant go-lives, including Torrid, Fossil, and Raycon, while Harrods is the last large merchant planned to launch in the second half of 2024, KeyBanc adds.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GLBE:
- Global-e Online price target raised to $55 from $41 at Raymond James
- Global-e Online price target raised to $54 from $45 at BofA
- Global-e Online price target raised to $60 from $45 at Benchmark
- Global-e Online price target raised to $63 from $44 at Piper Sandler
- Global-e Online price target raised to $64 from $46 at JMP Securities